Tiger, DST Lead $20M Series C In 17Zuoye.Com

Beijing-based online education platform 17zuoye.com has complete US$20 million series C round of financing from Tiger Management and DST, according to Chinese media reports.

The investment values 17zuoye at US$100 million.

The company previously received angel funding from Chinese entrepreneurs and angel investors Wang Qiang and Xu Xiaoping in 2011, and US$5 million series A funding from Shunwei China Internet Fund.

Last September, 17zuoye, which means "let’s do homework together" in Chinese, completed US$10 million series B funding, in which Shunwei invested US$5 million, Wang Qiang and Xu Xiaoping invested the other US$5 million.

Founded in 2011, 17zuoye focuses on providing services and products for primary mathematics and English learning.

According to data from 17zuoye’s website, it has 2.2 million users including teachers, students and parents, covering more than 10,000 primary schools in China.

This month, Alibaba, Temasek Holdings and Qiming Venture Partners invested US$100 million in another online education platform TutorGroup.

(Update on July 17, 2014: 17zuoye.com confirmed the US$20 million series C financing through an official announcement.)